Petrol prices in California have fallen again over$ 5 per gallon on average as the national average hit$ 3.60 on Tuesday. Rising oil prices were cited for the raise as a result of problems internationally and other factors.
According to AAA, typical prices have increased by nearly 50 percent in California and by just over 20 percent nationwide in a month. Washington, D. C., Maryland, and Virginia have all seen rises of 23, 27, and 21 percent in the same span of time.
” Renewed Russian attacks on Russia’s fuel system and increasing anxiety in the Middle East rose oil prices recently”, said Andrew Gross, an AAA official. There will likely get some price increases as a result of the cost of fuel accounting for roughly 60 % of what we pay at the pumps.
In light of the recent increase in crude oil prices that has been seen, the United States has recently urged Ukraine to stop attacking the Russian crude system. Instead of limiting the impact on electricity markets, Defense Secretary Lloyd Austin desired that Ukraine use the term “military target”.
Patrick De Haan, GasBuddy’s brain of gas research, cited “extensive plant maintenance on the West Coast” as another reason for the rise. De Haan anticipates rate increases to proceed into the summer, but he sees a “glimmer of trust” if an Israeli-Hamasi peace is reached.
Gas prices have increased since the start of 2024, and they are now close to the statistics of September 2023, when regional costs started to decline. However, gas prices are far from 2022 levels, which saw the national average price peak near$ 5 a gallon.
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Residents in the Washington metropolitan area may find a reprieve from high gas prices in Eastern Maryland counties such as Cecil, Kent, and Caroline, which have prices in the$ 3.50 range, but Southern Virginia sports even lower prices, with prices in the$ 3.20 range.
Consumers can also reduce rising prices by choosing to use premium gas at the pump during the week’s lowest demand and by going to the pump first.
